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Sweden's buffer pension funds' Ethical Council publishes 2010 Annual Report, includes reports on dialogues with companies associated with social, environmental abuses

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19 April 2011

Swedish AP funds call for Motorola to withdraw from West Bank

Author: Daniel Brooksbank, Responsible Investor

The Ethical Council of the four Swedish AP buffer pension funds...is calling on US communications giant Motorola Solutions to pull out of the Israeli-occupied territories in the West Bank. The Council wants the company, spun out of Motorola earlier this year, to cease delivery and maintenance of a custom-designed monitoring system for the settlements in the Palestinian territories. It states the settlements are located on occupied land and violate international humanitarian law. It’s also calling on the Illinois-based firm to adopt a policy to prevent it contributing to human rights violations.[also refers to Alliant Techsystems, Alstom, Chevron, Elbit Systems, Duke Energy, Freeport-McMoran Copper & Gold Goldcorp, GenCorp, General Dynamics, Hanwha Corp, L-3 Communications, Lockheed Martin, Poongsan Corp, Raytheon, Textron, Singapore Technologies Engineering, Vedanta, Veolia, Wal-Mart]

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18 April 2011

Ethical Council Annual Report 2010

Author: Ethical Council

Since 2007, [the First, Second, Third & Fourth AP Funds, buffer funds in Sweden’s national pension system] have been coordinating their work on environmental and ethical issues through the joint Ethical Council. The purpose of the Council is, through engagement and joint initiatives, to push for positive change in foreign companies associated with violations of international conventions on the environment and human rights...At 2010 year-end, the Ethical Council was engaged in direct dialogue with around ten companies...Simultaneously, external consultants were in dialogue with 100–200 companies on behalf of the Council and other clients...Companies in which the objectives of the dialogue were achieved...[Vedanta, BHP Billiton, Chevron, Halliburton, Sodexo, Grupo Ferrovial, PetroChina, Thales, Yahoo]...Ongoing dialogues [AES, Alstom, Bridgestone, Freeport-McMoran, Goldcorp, Incitec Pivot, Motorola Solutions, Rio Tinto, Toyota Motor, Veolia, Walmart]...Companies where the dialogue is inactive, pending the outcome of ongoing legal proceedings [Chevron, Duke Energy]...Companies that have been excluded from all Funds [Alliant techsystems, GenCorp, General Dynamics, Hanwha, L-3 Communications, Lockheed Martin, Poongsan, Raytheon, Textron, Singapore Technologies Engineering, Elbit Systems]

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18 April 2011

The Annual Report of the Ethical Council 2010 – Sweden’s AP funds make a difference through dedicated ownership

Author: Ethical Council [Sweden]

The joint Ethical Council of Sweden’s First, Second, Third and Fourth AP [funds']...annual report for 2010...describes how the four AP funds make a difference by using their influence as owners to take action against infringement of international conventions and demand changes. The report gives an account of the past year’s developments in the Ethical Council’s ongoing dialogues with portfolio companies that can be associated with violations of the ethical guidelines governing the four AP funds’ investments...One company, Vedanta Resources, has been removed from the dialogue list and dialogues have been started with three new companies, Alstom, Veolia and Motorola Solutions.

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